APRIL Records 36% Growth, Aiming to Dominate European Insurance Market
In a striking display of momentum, APRIL announced a remarkable 36% growth in its turnover, reaching an impressive €860 million within just one year of launching its Spring 27 strategic plan. This significant achievement underscores the company's aspiration to rise as Europe's foremost insurance broker, particularly in the mass market segment. Among the highlights of this growth, 21% of the revenue stemmed from activities outside of France, indicating a successful push towards international markets.
The premium volume negotiated by APRIL climbed to €1.9 billion, alongside an impressive €16 billion in assets under management. The organization managed to expand across its four primary market segments: personal insurance, property and casualty insurance, international health insurance, and asset management. Each segment displayed growth, demonstrating APRIL’s agility in adapting to market dynamics.
Personal insurance activities, which encompass health coverage and protection for both individuals and businesses, recorded a turnover of €358 million. However, this was slightly hampered by a downturn in the property market that affected the Creditor Insurance and mortgage sectors through La Centrale de Financement. Nevertheless, a resurgence in the consumer healthcare market towards the end of the last quarter of the year brought optimism. This signals a promising trajectory for APRIL’s healthcare services as the demand is expected to pick up once more.
In property and casualty insurance, which includes coverage for vehicles, construction, and leisure activities, the turnover surged by 24% to reach €230 million. This spike was driven by robust organic growth and the strategic acquisition of UK insurer Lexham, which added significant value to APRIL's portfolio. Current trends in expatriate healthcare also highlight an upward trend with a 9% growth, culminating in a turnover of €90 million. APRIL International is moving towards realizing a unified global information system in 2025, a vital move anticipated to confer a competitive edge in the consolidating international healthcare market.
Looking ahead, APRIL has successfully integrated DLPK, the leading French entity in savings and asset management, alongside Lexham Insurance, which has positively influenced financial performance. With 2024 marking these successful integrations, APRIL is now focused on exploring additional growth opportunities, including greenfield investments in ten countries such as Egypt, Abu Dhabi, and Mexico, set to commence in 2025.
A notable aspect of APRIL's revitalized strategy is its commitment to digital transformation, backed by a promising investment of €140 million spanning from 2023 to 2026. This investment will enhance multiple artificial intelligence initiatives and significant upgrades in data handling, extending to hiring 400 additional employees focused on customer relationships, digital, and IT roles in 2025.
Furthermore, APRIL is expanding employee ownership opportunities, encouraging more than 50% of its global workforce to become shareholders in 2024, reinforcing the company’s culture of shared value and collective growth.
Eric Maumy, CEO of APRIL Group, stated, "APRIL's solid results reflect our partners' and customers' trust as well as our teams' commitment. The first two years of our strategic partnership with KKR have proved a success that is consolidating our joint ambition of making APRIL a world-class European player. Although France is our biggest market and we are enjoying sustained development there, our target is to generate 30% of our turnover internationally by 2027." He emphasized the importance of maintaining a strong voice in advocating for consumer interests, particularly in relation to creditor insurance, as the company navigates the complexities of the market.
APRIL employs approximately 3,000 dedicated staff members who strive to offer an outstanding customer experience, merging technology with personalized service across its extensive range of insurance products. The organization is committed to fostering a digital, agile, and omnichannel business model that champions customer needs while respecting societal responsibilities.
By capitalizing on its substantial growth and reinforcing its operational foundation, APRIL stands poised to fortify its competitive position in the European insurance landscape for years to come.
The premium volume negotiated by APRIL climbed to €1.9 billion, alongside an impressive €16 billion in assets under management. The organization managed to expand across its four primary market segments: personal insurance, property and casualty insurance, international health insurance, and asset management. Each segment displayed growth, demonstrating APRIL’s agility in adapting to market dynamics.
Personal insurance activities, which encompass health coverage and protection for both individuals and businesses, recorded a turnover of €358 million. However, this was slightly hampered by a downturn in the property market that affected the Creditor Insurance and mortgage sectors through La Centrale de Financement. Nevertheless, a resurgence in the consumer healthcare market towards the end of the last quarter of the year brought optimism. This signals a promising trajectory for APRIL’s healthcare services as the demand is expected to pick up once more.
In property and casualty insurance, which includes coverage for vehicles, construction, and leisure activities, the turnover surged by 24% to reach €230 million. This spike was driven by robust organic growth and the strategic acquisition of UK insurer Lexham, which added significant value to APRIL's portfolio. Current trends in expatriate healthcare also highlight an upward trend with a 9% growth, culminating in a turnover of €90 million. APRIL International is moving towards realizing a unified global information system in 2025, a vital move anticipated to confer a competitive edge in the consolidating international healthcare market.
Looking ahead, APRIL has successfully integrated DLPK, the leading French entity in savings and asset management, alongside Lexham Insurance, which has positively influenced financial performance. With 2024 marking these successful integrations, APRIL is now focused on exploring additional growth opportunities, including greenfield investments in ten countries such as Egypt, Abu Dhabi, and Mexico, set to commence in 2025.
A notable aspect of APRIL's revitalized strategy is its commitment to digital transformation, backed by a promising investment of €140 million spanning from 2023 to 2026. This investment will enhance multiple artificial intelligence initiatives and significant upgrades in data handling, extending to hiring 400 additional employees focused on customer relationships, digital, and IT roles in 2025.
Furthermore, APRIL is expanding employee ownership opportunities, encouraging more than 50% of its global workforce to become shareholders in 2024, reinforcing the company’s culture of shared value and collective growth.
Eric Maumy, CEO of APRIL Group, stated, "APRIL's solid results reflect our partners' and customers' trust as well as our teams' commitment. The first two years of our strategic partnership with KKR have proved a success that is consolidating our joint ambition of making APRIL a world-class European player. Although France is our biggest market and we are enjoying sustained development there, our target is to generate 30% of our turnover internationally by 2027." He emphasized the importance of maintaining a strong voice in advocating for consumer interests, particularly in relation to creditor insurance, as the company navigates the complexities of the market.
APRIL employs approximately 3,000 dedicated staff members who strive to offer an outstanding customer experience, merging technology with personalized service across its extensive range of insurance products. The organization is committed to fostering a digital, agile, and omnichannel business model that champions customer needs while respecting societal responsibilities.
By capitalizing on its substantial growth and reinforcing its operational foundation, APRIL stands poised to fortify its competitive position in the European insurance landscape for years to come.
Topics Financial Services & Investing）
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